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Help You may use the template which was sent to you by e-mail to help you answer the questions which follow Tasty Company operates four food trucks which mainly serve food near stadlums prior to sporting events and concerts. it prepare budgets. At the end of each month the accounting department prepares a "performance report Tasty Company uses cdstomers served as its measure of activity. Planning (static) budget amounts and actual results for the month are given in the table below Complete the performance report table) given below and then answer the question which follows below the table Actual Revenue&Flexble Activity Planning Total Results Spending budget Variances (Static Variance Budget 0,000 Customers served (q) 0,600 Revenue$99640 $90,000 ($9.00q) Expenses: Expenses Wages and $30,020 salaries ($12,000+ $1.50q) $27000 COGS ($4.20q) $42,930 $42,000 $5,400 03 Insurance ($5,300) $5,300 $2,530 $3,500 Miscellaneous ($2,000+ $.15q) Total expenses $80880 $77800 Net operating $18,760 $12,200 ncome Which one of the following statements is correct (true) with respect to the information given above and/or the prenara 13 & App. 10A,10B12A) Saved Help Save & ncome Which one of the following statements is correct (truej with respect to the i performance report? nformation gven abovesandlor the preparation and use ofa Multiple Choice Miscellaneous" costs for Tasty Compony can be best described as a "variable cost: Management generally does not use performance reports but rather uses the four basic firiancial accounting statements (eg the Income statement) in fulfilling its planning and control responsibilities The sum of all activity' and "revenue and spending" variances must equal the difference between the planning budget "net operasing income and the actual "net operating income Management generaly does not use performance reports but rather uses the four basic financial accounting statements (e g the income statement) in fuliling its planning and control responsibilrties. The sum of all activity' and "revenue and spending variances must equal the difference between the planning budget "net operating income" and the actual "net operating income Selling to customers at a higher selling price per unit than budgeted would result in an unfavorable "revenue& spending veriance for a unit-related cost (e.g. COGS) Compute the "Insurance "revenue & spending variance for June. Multiple Choice $5,400 $100 F $100 U $0 Compute the "Total" variance for "Miscellaneous" costs for June. Multiple Choice $1,150 F 30.53 $970 F $1150 U $970 U Compute the 'Activity' variance for "Revenues for June Multiple Choice $5,400 U $9,640 F $5,400 F $9,640 U